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COMPANY REGISTRATION NUMBER: 05411996
Soccerwise Limited
Filleted Unaudited Financial Statements
31 May 2023
Soccerwise Limited
Statement of Financial Position
31 May 2023
2023
2022
Note
£
£
£
Fixed assets
Tangible assets
5
8,740
2,997
Current assets
Debtors
6
66
1
Cash at bank and in hand
52,228
73,195
-------
-------
52,294
73,196
Creditors: amounts falling due within one year
7
8,209
10,263
-------
-------
Net current assets
44,085
62,933
-------
-------
Total assets less current liabilities
52,825
65,930
-------
-------
Net assets
52,825
65,930
-------
-------
Capital and reserves
Called up share capital
3
3
Profit and loss account
52,822
65,927
-------
-------
Shareholders funds
52,825
65,930
-------
-------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
For the year ending 31 May 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 20 February 2024 , and are signed on behalf of the board by:
Mr C Bullock
Mrs W Bullock
Director
Director
Company registration number: 05411996
Soccerwise Limited
Notes to the Financial Statements
Year ended 31 May 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is The Moorings, Dane Road Industrial Estate, Dane Road, Sale, Cheshire, M33 7BP.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for services rendered, stated net of discounts.
Income tax
The taxation expense represents the aggregate amount of current tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
-
33% straight line
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 3 (2022: 3 ).
5. Tangible assets
Equipment
Total
£
£
Cost
At 1 June 2022
4,160
4,160
Additions
9,364
9,364
-------
-------
At 31 May 2023
13,524
13,524
-------
-------
Depreciation
At 1 June 2022
1,163
1,163
Charge for the year
3,621
3,621
-------
-------
At 31 May 2023
4,784
4,784
-------
-------
Carrying amount
At 31 May 2023
8,740
8,740
-------
-------
At 31 May 2022
2,997
2,997
-------
-------
6. Debtors
2023
2022
£
£
Other debtors
66
1
----
----
7. Creditors: amounts falling due within one year
2023
2022
£
£
Corporation tax
7,304
9,465
Other creditors
905
798
------
-------
8,209
10,263
------
-------
8. Directors' advances, credits and guarantees
During the year the directors entered into the following advances and credits with the company:
2023
Balance brought forward
Advances/ (credits) to the directors
Balance outstanding
£
£
£
Mr C Bullock
( 99)
99
Mrs W Bullock
( 99)
99
Mr J Bullock
1
1
----
----
----
( 198)
199
1
----
----
----
2022
Balance brought forward
Advances/ (credits) to the directors
Balance outstanding
£
£
£
Mr C Bullock
( 823)
724
( 99)
Mrs W Bullock
( 823)
724
( 99)
Mr J Bullock
------
------
----
( 1,646)
1,448
( 198)
------
------
----